Wellington Management Group LLP Increases Holdings in Carrier Global Co. (NYSE:CARR)

Wellington Management Group LLP lifted its stake in Carrier Global Co. (NYSE:CARR - Free Report) by 303.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,661 shares of the company's stock after buying an additional 136,597 shares during the period. Wellington Management Group LLP's holdings in Carrier Global were worth $12,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. RFG Advisory LLC increased its position in shares of Carrier Global by 36.2% in the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company's stock worth $489,000 after purchasing an additional 1,904 shares during the period. Princeton Global Asset Management LLC increased its holdings in Carrier Global by 1,156.1% in the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company's stock valued at $1,410,000 after buying an additional 19,018 shares during the period. Miracle Mile Advisors LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at approximately $2,213,000. Waldron Private Wealth LLC boosted its position in shares of Carrier Global by 90.5% during the 4th quarter. Waldron Private Wealth LLC now owns 16,532 shares of the company's stock worth $1,128,000 after acquiring an additional 7,854 shares in the last quarter. Finally, Gateway Wealth Partners LLC boosted its holdings in shares of Carrier Global by 221.8% in the 4th quarter. Gateway Wealth Partners LLC now owns 10,327 shares of the company's stock valued at $705,000 after purchasing an additional 7,118 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CARR shares. Mizuho upgraded shares of Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 price objective for the company in a report on Friday, February 14th. Citigroup cut their price target on Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a research note on Monday. Royal Bank of Canada lowered their price objective on Carrier Global from $86.00 to $76.00 and set an "outperform" rating for the company in a research note on Wednesday, February 12th. Barclays cut their target price on Carrier Global from $87.00 to $83.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company dropped their price objective on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Carrier Global presently has an average rating of "Moderate Buy" and a consensus price target of $80.13.

Carrier Global Stock Performance

Shares of NYSE:CARR traded up $0.30 during mid-day trading on Tuesday, reaching $60.89. The company had a trading volume of 648,683 shares, compared to its average volume of 4,498,121. The company's 50-day moving average price is $64.19 and its 200-day moving average price is $70.11. Carrier Global Co. has a one year low of $53.33 and a one year high of $83.32. The firm has a market cap of $52.61 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 2.01 and a beta of 1.33. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period last year, the firm earned $0.53 EPS. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd will be paid a $0.225 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.90 annualized dividend and a dividend yield of 1.48%. Carrier Global's payout ratio is 14.33%.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.